The piece examines NCLAT's May 2026 dismissal of Vedanta's challenge to Adani Enterprises' INR 14,535 crore resolution plan for Jaiprakash Associates, where a bid gap of over INR 3,000 crore was left on the table due to the Process Note's bar on post-challenge modifications.

Matrix v. Intel should not be read as requiring global warranty parity. Its stronger foundation lies in discrimination between two sources of genuine Intel products within the Indian relevant market.

Pannalal's blueprint has two structural failures firstly, no mandatory independent valuation for selective Section 66 reductions, and secondly, no genuine price discovery when those reductions target only public shareholders.